Moelis & Company (NYSE:MC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Moelis & Company (NYSE:MC - Free Report) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,427 shares of the asset manager's stock after selling 6,438 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Moelis & Company worth $4,635,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its position in shares of Moelis & Company by 52.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 398 shares of the asset manager's stock valued at $30,000 after buying an additional 137 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Moelis & Company in the fourth quarter valued at $31,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Moelis & Company by 1,551.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 644 shares of the asset manager's stock valued at $38,000 after buying an additional 605 shares in the last quarter. Versant Capital Management Inc increased its position in Moelis & Company by 1,460.8% during the 1st quarter. Versant Capital Management Inc now owns 796 shares of the asset manager's stock worth $46,000 after purchasing an additional 745 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in Moelis & Company during the 1st quarter worth about $59,000. Hedge funds and other institutional investors own 91.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Morgan Stanley upgraded Moelis & Company from an "underweight" rating to an "overweight" rating and lifted their price objective for the stock from $42.00 to $68.00 in a research report on Monday, June 23rd. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. Wells Fargo & Company lifted their price target on Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods lifted their price target on Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a report on Monday, July 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Moelis & Company presently has an average rating of "Hold" and an average target price of $66.00.

Moelis & Company Price Performance

NYSE MC opened at $70.26 on Friday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 27.66 and a beta of 1.64. Moelis & Company has a 1-year low of $47.00 and a 1-year high of $82.89. The business's 50-day simple moving average is $62.30 and its 200-day simple moving average is $63.46.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.21. The business had revenue of $365.38 million for the quarter, compared to analyst estimates of $269.57 million. Moelis & Company had a return on equity of 45.30% and a net margin of 14.31%. The company's revenue was up 38.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. On average, equities research analysts expect that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Monday, August 4th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.70%. The ex-dividend date is Monday, August 4th. Moelis & Company's dividend payout ratio (DPR) is presently 119.27%.

Moelis & Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.

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